Company extends $89 million to small businesses in Arizona
Wells Fargo & Company (NYSE: WFC), America’s #1 small business lender, today announced it is the #1 Small Business Administration (SBA) 7 (a) lender in Arizona in amount of dollars and number of loans approved for fiscal year 2014. Wells Fargo approved $89,034,400 and 197 loans to Arizona businesses from Oct. 1, 2013 and Sept. 30, 2014.
“Working with small business owners is one of the most important things we do and is a key focus for our company,” said Greg DeJesus, SBA regional sales manager for Wells Fargo Arizona. “Every SBA dollar we lend helps an Arizona business owner start, expand or invest in a business and helps keep the Arizona economy strong. We believe that the flow of new loan dollars into our communities represents a very powerful statement for job creation and economic development.”
Nationally, Wells Fargo approved a record $1.6 billion in Small Business Administration (SBA) 7(a) loans in federal fiscal year 2014 (Oct. 1, 2013 – Sept. 30, 2014). The company increased its dollar volume of SBA 7(a) loans by 10 percent from a year ago. An SBA preferred lender in all 50 states, Wells Fargo also is the second largest SBA lender by units, extending 4,036 SBA 7(a) loans in federal fiscal year 2014, a 16 percent increase in units from the prior year.
Wells Fargo is the No. 1 SBA 7(a) lender in dollars in 10 states: Arizona, California, Colorado, Minnesota, North Dakota, Nevada, New Mexico, Oregon, South Carolina and Texas – and the No.1 SBA 7(a) lender in number of loans (units) in 8 states: Alaska, Arizona, California, Georgia, North Carolina, New Mexico, South Carolina and Virginia.
About Wells Fargo
In Arizona, Wells Fargo has 259 stores and 15,000 team members. Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.6 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.
Wells Fargo serves approximately 3 million small business owners across the United States and loans more money to America’s small businesses than any other bank (2002-2013 CRA government data). To help more small businesses achieve financial success, in 2014 Wells Fargo introduced Wells Fargo Works for Small BusinessSM – a broad initiative to deliver resources, guidance and services for business owners. For more information about Wells Fargo Works for Small Business, visit: WellsFargoWorks.com.